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tv   Cavuto on Business  FOX Business  February 2, 2014 8:30am-9:01am EST

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the year. >> john you used to play in the nfl. jonas bull or bear? >> on your portfolio. >> go 49ers. some day, please. [ music playing [ music playing ] >> is obamacare on life support? it appears even the people supposed to help don't like it. hello, i'm in for neil cavuto. the former presidential candidate mitt romney sitting down with feel before the president's state of the union speech. >> the real parliament, ifident people time and again they can keep their insurance if they want it. they can keep their doctors, that promise about keeping their insurance, he violated. he knew it at the time. he was dishonest. >> that is something which he should apologize profusely. >> guess what, no apology. in fact, not much on health care
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in the state of the union speech. a new poll finding even the uninsured don't like it by a 2-1 market. a luge u huge slide in one mont so if they don't want it, are we all going to pay more because of it? gary. can, this is a bigger bigger not only pr fight mayor, obviously economic nightmare. >> look, it won't always be, from day one, they ha to use the word siv, economically unfeasible. there is no way you can look at the american public and say we will add all these millions of people, by the way, it's not costing anything, we are seeing the outcome. we are starting at this point in time. >> on the pr side, it's not just the uninsured. i'm looking at a fox news pole. six out of ten expect tear rates to go much higher. >> we got the evidence of it right now. l.a. times reporting and blue
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cross in california will raise premiums u to 25% for people who are grandfathered into older plants. the ate is trying to put a stop to that. this is the kind of thing you will see, how about the cadillac health care plans kicks in. 40% exuse tax, that is going to hit, guess who? union. u will see more and more outrage. >> well see what happens between now and then. ben, here's the thing, we were told there were 30 million people out there in america with no insurance. i thought there would be the rush for the sea. where are the crowds? they got everyone promoting this, the nfl, nba, hollywood, no one wants it. >> you scared them away. no, i'm just kidding. mr. obama basically promised something that could not be done. he promiseo defy the laws of arithmetics, statistics, it cannot be done it was an attempt by someone naive andic nornt about the way
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the real world works. he should not have promised this grandiose thing. he should have done the thing nixon said he cannot do. find out who cannot, give them a check. simple, done and done. >> charlie gasparino is mur muring. here's why. >> isen it somewhat ironic the man mitt romney is criticizing obamacare. don't p doesn't that strike you as odd? >> is it critical? >> i'm just saying that i hate this law. i think it's economically unfeasible. but it's economically unfeasible. it was modelled after what mitt romney did. i think you have to take a little owhat said by a grain of salt. he is criticizing a narrow aspect. whether he lied or not. he is not criticizing the law. >> a lot of people have criticized the law and pointed out the fact that ben did, it's
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economically unfeasible. it request mot work the way it's designed. >> yeah, a lot of people criticized this law, starting with you, charles, and i say that actually quite seriously. i'm using you as a maphor here. this whole segment is based on a survey of people. what do you think will happen to your health costs? we tell them constantly, this is a terrible law. this law isn't going to work. >> hold on. >> this work is -- the president lied to you. >> where are the people -- this is supposed to help? where are they? how come they haven't signed up. >> a million have. a millions have,illions more will but every time we tell them how bad this , i'm not finished speaking. every time we tell them how bad this is, we plant seeds of doubt in their minds. maybe it's not a good idea. maybe i shouldn't sign up. maybe i shouldn't get -- >> hold on, one second,gys. >> you are blaming fox news for
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is? >> i didn't say that, ben, you said that. >> i'm shocked you would suggest that to me. >> that is funny. are you getting funnier and funnier. >> hold on a second. gary k. >> adam, look, you sit there talking surveys. i'm talking real world. i put it out there to my radio audience to send me e-mai on what is haening to their insurance. ey're either getting kicked off. the premiums are going up. everything is going up. they are complaining. >> god forbid when you do. god forbid we should follow the story. this is your radio show. who are predisposed to answer these types of questions. that's great. >> god forbid we should follow this story. you and the psident go out there and talk about the millions of people you signed up. yet you will not release numbers how many people paid? >> i don't have those numbers. >> here's the bottom line. i don't care what side of the
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aisle are you on. it's hard to argue this has been success. >> how many people paid? >> forget abt how many people paid. we have 30 million people out there, they were missing, mistreed. this is a what i to make it a fair nation. where are they? where are they? >> charles, i think the bigger thing i want to focus on, the reason this law is not getting favored is because the people who had insurance is being impacted. they're getting baunsed off their ens plans. they are worried about losing access, 300,000eople or more in california who are going to get their premiums raise. just in california. up to 25%. the issue is that this law will change the way that we access doctors and use health care and what we pay. >> the exact opposite. >> we are going toakeveryone hate it. >> that was the exact opposite then of what was promised from this will you. it's going on a lot of things we were told it would not do. >> well, we were promised it
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would besimple. it's incredibly complex. we were promised it would save money. it is not saving money. we were promised it would give consumers leeway and choice. i'm sure it's a fine bill in some respect. but it is giving people the choice of whether or not to be ripped off or not. >> it is giving some people some opportunity overall, compared with what was promised. remember. >>. >> remember, ben, how they did you do it for years we complained about our hornl insurance, the hmos. guess what they did? they just took that system and expanded it. that's what we have for now. >> that people like adam and the left. we watch fell le vision shows,
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would decry how many insurance companies are doing x and y. it just expanded. . >> what the leftped was national health care. right. the left didn't get national health care. we got an expanded insurance program. it's messy. i don't think anyonehought this would be simple. >> i have been silent. i want to add to something adam said is every time you arc you a point of fact, anybody on the, against obamacare. if we point out something that's gone wrong with it. people act like we are the devil. i'm tired of people on twitter telling me, i hope you die of cancer because i have problems with obamacare. that's the way they have treated. if you say anything negative that's a point of fact. >> when you use words like messy, that a euphemism for
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disaster? >> that's a good example of how our debate gets poisoned. i mean cannot as good? absolutely. you think disaster and saying what you have been saying all te along, you have been consistent. we shouldn't be enemies. >> that's what i want to do, everything to make sure it doesn't work. >> it's easy if you are a critic of this. it falls into your lap. the website from day one, i thought it would be jumplg i didn't know 6 million people were going to lose their health ens. it's easy to be a critic of this thing. >> forget opinions. i deal with facts and numbers. the numbers are just a horror show. here's my big worry. we are in the infancy of all this. the people that brought it to, they didn't know what the heck they were doing, what is net? what will be the final outcome? >> there are signs this was
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going badly. months in advance in november. >> it was driven by a whole lot of ideology. come on, guys. my ra or my ol ira? a new government savings plan from a government that has no idea how to save somebody save us. [ male announcer ] here's a question for you: is your tv powered by coal? natural gas? nuclear? or renewables like solar... and wind? let's find out. this is where america's electrity comes from. a diversity of energy sources helps ensure the electricity we need is reliable.
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i'll send you back to cavuto on business only here on the fox news channel. >> i will sign a presidential
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memorandum that directs the u.s. treasury secretary jack lew to create a new way tore working americans to start their own retireme savings, that encourages manner e americans to begin to build a nestegg. >> guess what, he signed it. but will america sign onto it? a government-run savings plan, my ra, putting money into a basically savings bond. gary k. this is coming from a government that can't save even a penny. >> white the i-on-y the government is saying, go ahead, save, we are 17 trillion in debt. go ahead, we can only buy bonds which creates more of our debt. savings is good. i tell people in the public save as much as you can we have iras that can give you choice. >> what do you make of it, charlie? >> what is so dumb is you can do this already. you boo atreasury bond. >> why get involved?
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>> this is a huge stupid public relations ploy. it is dumb. you can go out. you don't need this to buy treasury bonds. what he is basically saying to employers is help u run massive deficits. >> what is it? what is it? >> he's not saying why don't you invest in competent america. he's sayin buy our debt. >> it won't amount to enough money to matter to our debt, number one. >> that's not the reason to do it. >> the reason he is doing it is to go to the state of the union address and say, hey, i am reaching out to people. the thing doesn't make sense to me the way we save in this country is already so complicated. iras. >> you can buy apple. >> it's just wrong. we don't need another complicated retirement vehicle that's impossible to figure out. there is a $15,000 limit on
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these things for the life o it. that's why it won't amount to anything. >> why is the government gettin involved ithis? >> first of all, i don't disagree, this is mostly pr. it won't amount much to the government. to savers. having said that, we know for a fact that many, many people in this country are poor savers. they aren't good at i. we all need help. this offers a small amount of help to get people into the habit of saving and there is absolutely no reason to criticize. >> yes, there is a reason. i would rather tell people to buy one of your books, come on what i'm trying to say is there are opportunities out there. would you give your money to the united states government to invest for you? or even to hold on to? when you g give it to them? >> at low rates. yes, charlie gasparino noted there are already treasury bonds for sale.
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there are money market funds. what is he talking about in. >> you get ahead of this round thing, they will make wagon, already already savings accounts, what is he talking about? >> listen, you smarty pants are going to hate this. people either don't know how or don't boy those instruments so the president is offering a way to help -- >> they don't know how to go to a bank? >> maybe we can pick up with this magazine call "fortune" adam. >>ould you hire president obama as your financial adviser? >> you know, you are purposely -- cutting the issue. would i invest? >> i can't run a health care website. the president can't do anything financially, you know. >> answer the question, i would and i do. >> there are already --.
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>> you are confusing matters. >> there are already -- >> there are already billions of dollars in retirementaccounts him people have gotten it. they have done a good job with it and so to say, oh, you can have this account but only one thing, a tebow vs. a market. i don't like it. >> that's the thing that frustrates me about savings vehicles in this country. the government has already me it so complicated between traditional iras and roth iras, you add another one. this one has income limits. this has maximum amounts i just want them to simplify it and open the door for people to save as much as they want to. >> isn't it stupid? >> let's leave it atthis, washington wants us to save more. congress givers us a farm bill sizzling. they are cooking up the answers on that at the top of the hour. what if i told you to post out
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well, forget about uncle sam. how about big brother sam? a new report shows that the consumer financialrotection bureau is coecting personal information from an estimated 991 million credit card accounts. >> well, it's not a problem if
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they are collecting aggregate data. >> personal information, ben. personal. >> i know. i know. i know. that's where it gets scary. why do they need that? why does the government need that kind of information? surely that's not going to reduce terrorism, surely that's not going to lead us to al qaeda. why do they need it? it seems to be a phrase that warren buffett used a lot, it' to snoop. by the way, are there enough people in america to even read all of those documents? >> i guess if they used algorithms or something like that. i don't know. but 990 million. and they are just looking through this stuff and snooping through it. >> it continues and never ends. >> you just jumped over charlie for the best line of the show. >> and everybody spit up their cereal. >> and here's the big problem. they only let us know what they are doing when they want to et will us know what they are
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doing. we only know 100th of what they are doing. i don't know what their goal is but i don't like it. >> the consumer financial protection bureau, charlie, might be named the wrong name. >> i would like some explanation about why they need this. you have to ask yourself, the same morans -- >> i'm wondering what a colonoscopy like that would look like. >> wait a minute. this is getting a little raw. >> where people are pushing back against this sort of government overreach, collecting the data and massaging data and listening to phone calls -- >> the one thing that might trigger bigger concern about it is the fact that you have the target data breach which compromised more than 100 million accounts, people trust the government with that data.
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is it more secure -- >> adam, why do they need to have this information? >> you know, i think we should pay -- we should definitely scrutinize everything that they are doing but i think we are trivializing the fine work that our security apparatus are doing that has kept us safe since 9/11. >> that has nothing to do with it. >>ou're suggesting -- >> guys, we're going to leave it there. >> he's worried now. >> my thanks to charlie and megan. stocks in january. there was a big loss but our teams are suiting up with safety picks that are going to keep you on a winning team. welcome back. how is everything?
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trying to play it safe with safety stocks. >> you wantsafety, i'm giving you safety. diminion. >> can you top that, adam? >> pretty good i'm flexible. tips to protect yourself against inflation. it's what the president is suggesting. if you don't like this, do this. >> all right. ben stein? >> that is not a suggestion worthy of adam's intellect.
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but coca-cola. if mr. buffett likes it, i like it. >> you guys are fantastic. >> diet coke. >> the to b for business, you know it, fox. let's work together and find common ground. >> weeed to work together. >> let's work together. >> yeah, but look what happens when they do work together. the house passing a $956 billion farm bill. a billion for the cotton income protection plan. 51 million for bio energy. and get this, $3 million to promote christmas trees. i'm not making this up. is it time to go back to the bickering and stop the spending? welcome to "forbes on," i'm david asman. elizabeth mcdonald, rick


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